Ryan Cos. has purchased the Associated Bank building in Eagan with plans to redevelop that property and an office next door into a new bank branch and a yet-to-be-disclosed grocery store.
Ryan officials declined to discuss details on the future of the property, which now houses the bank and two upper floors of offices on Yankee Doodle Road, just east of Interstate 35E. According to state records, Ryan paid $4.32 million for the 35-year-old building, but officials declined to say more, noting they were operating under nondisclosure agreements.
Eagan Community Development Director Jill Hutmacher said Monday the city is "excited" that a new grocery store is coming but that officials do not know what company it will be. It has been widely speculated that a high-tech Amazon grocery store is one of the possibilities.
Ryan would only confirm that it is working with Associated Bank to build a smaller bank branch with a drive-through plus a grocery store.
City officials explained that the future grocery will be 34,500 square feet and take the place of the current Associated Bank. An office building next door will be demolished first and be turned into a new and smaller Associated Bank. After that bank project is completed, construction would begin on the supermarket, Hutmacher said. The site addresses are 1260 and 1270 Yankee Doodle Road.
"Looking ahead, we're excited to begin construction in Eagan. We value our partnership with Associated Bank and the trust they've placed with Ryan Companies to develop their new branch. It would be premature to disclose more details at this time, but we look forward to sharing more in the future," Patrick Daly, vice president of real estate development at Ryan Cos., said in an e-mail to the Star Tribune.
The development site is located in Eagan's busy Central Commons Special Area and is close to other financial and grocery establishments and just up the street from Town Centre. Spire Credit Union, Cub Foods, Walmart and Lunds & Byerlys are all within a mile, if not blocks from the proposed redevelopment site.
Dee DePass • 612-673-7725